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Why Nokia (NOK) Stock Is Lower Today

Shares of Nokia (NOK) are down after Microsoft (MSFT) was downgraded to "hold" from "buy" today at Deutsche Bank (DB) over concerns Microsoft's $7.2 billion device deal with Nokia may be a "net negative" due to a slide in Nokia handset sales.

NEW YORK (TheStreet) -- Shares of Nokia Corp. (NOK) are down -1.82% to 7.28 after Microsoft (MSFT) was downgraded to "hold" from "buy" today at Deutsche Bank (DB). The bank is concerned that Microsoft's $7.2 billion device deal with Nokia may be a "net negative" due to a slide in Nokia handset sales, Fox Business News reported.

In a note to clients, Deutsche Bank said Microsoft has its "work cut out for it" to reach Nokia device sales targets.

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